Yes, she'll be launching a branded perfume. "I have always loved how fragrance can shape a memory…the way certain scents remind you of events and people," says Swift, who's working with Elizabeth Arden. [People]

The U.S. mid-term election results will be watched closely by many in the fashion industry. If Republicans gain a majority in the House, extending President Bush's tax cuts for the very wealthy will be back on the agenda, along with free trade. Fashion retailers generally support free trade agreements, while those who still manufacture clothing domestically oppose them. Under a Republican majority, the fate of proposed legislation to offer limited copyright protection to certain fashion designs is unknown. [WWD]

The full Lanvin for H&M collection looks extremely enticing — if you're into party dresses, animal prints, and bright colors. [Nitro:Licious]

Designer Neil Barrett attended a fancy Halloween party in Italy, where he wore blackface makeup and an Afro wig for a costume. We can't tell from this picture if the two similarly be-wigged dudes he went with are black, or also in blackface, but we still think a blackface Halloween costume is not okay, even if your black friend goes with you. Even in Italy. Why, fashion? Why? [Style.com]

American Apparel finally released its results for the second quarter, which ended June 30. The company lost $14.7 million during that three months, bringing total losses for the first six months of 2010 to $57.5 million. Sales fell 2.4% on the same period one year ago. Again, the filing contained the disclosure that the company's continued problems remaining in compliance with its loan agreements "raise substantial doubt that the company will be able to continue as a going concern." And: American Apparel "may not have sufficient liquidity necessary to sustain operations for the next 12 months." [WWD]

Emma Watson — and her cute, new haircut — made the cover of British Vogue's December issue. [Vogue UK]

This sparkly gold Balmain dress, which has been depicted on six fashion magazine covers and counting, is the new much-covered Miu Miu dress! Adjust your tastes accordingly. [Fashin]

François-Henri Pinault, head of luxury mega-conglomerate PPR, says "hedonism" is totes back. "We're living in an age when the aesthetic element, pleasure and gratification are present in everyday life, from architecture to the design of common objects, and including fashion," says Pinault. "Quite simply, the desire to dress and buy new clothes as whim and means dictate is spreading to everyone, and at an even younger age. All segments of the population, regardless of social position, want to look and feel good." And as we all know, if it feels good, do it! [WWD]

This short clip produced by Prada, in collaboration with several artists, is really trippy. [Grazia UK]

Italian fashion illustrator Alexsandro Palombo, whose work basically makes fashion's sacred cows into hamburger, has attracted criticism for depicting industry lights like Victoria Beckham and Rachel Zoe as (chic, leopard-printed) skeletons and making reference to their purported anorexia. We often find Palombo's stuff funny, but his "but I'm an aaaaaaaaartist" defense of Joanna Coles-skeleton, Michelle Obama-skeleton, and Amy Winehouse-skeleton, is just stupid. [NYDN]

Veruschka was asked the question all women celebrities are asked in every interview they give from the age of 32 on, which is probably why Veruschka doesn't give many interviews: "No, it has not been hard to grow older," she replied. "Because I believe if you have something you believe in, that will keep you alive far more than plastic surgery or Botox." [Vogue UK]

Newbie model Kristina Romanova, on the Alexander McQueen show: "Everybody was crying backstage — models, hairdressers, everybody. But it was a beautiful show, and the collection was really McQueen." [WWD]

There's speculation that Karolina Kurkova may be returning to the Victoria's Secret catwalk this year. She was last in the show in 2008. [Fashionologie]

Uniqlo's same-store sales fell 1.1%, year-on-year, during the month of October. That modest decrease represents a slight improvement in the Japanese fast-fashion chain's fortunes. [WWD]